RI war, strike premiums cut

RI war, strike premiums cut

LONDON (Dow Jones): The London-based War Risks Rating Committee has reduced its insurance rating for Indonesia on which war and strike risk premiums are payable effective 1600 GMT Friday, WRRC announced Friday.

The WRRC has lowered its basic recommended surcharges in Indonesia to 0.3 from 0.375 for category B, to 0.3275 from 0.4025 for category D, and to 0.325 from 0.4 for category E.

Categories B and D cover risk from incidents of war or strikes, and category E covers risk for air cargoes.

The figure represents a percentage of the insured value of the cargo carried by sea or air.

The WRRC indicated that the insurance rates have been reduced in reaction to a perceived easing of social tension in the regions affected.